Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

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Re: Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

Originally Posted by shrubnose

I noticed that and I also noticed a long time ago that's what's high today may be low tomorrow.

But I never thought that was earth-shaking news.

Some people spend a big part of their life wasting other people's time with BS.

But life goes on and the world doesn't stop turning.

Did you ever notice that?

First, your two comments above about my post are unpleasant. I encourage you to be more polite, like I am. I respect you and want nothing different in return.

The reason many sources have mentioned for the strengthening of the dollar a couple of days ago is the rising tension around Ukraine. It has nothing to do with Russia's move to sell Gazprom products in roubles and yuans. The latter may still, and probably will, weaken the dollar at a more future point if fear of a major armed conflict subsides. People still reach for dollars when there is uncertainty. The issue is, maybe it won't continue to be like this in the future.

Re: Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

Originally Posted by GreatNews2night

First, your two comments above about my post are unpleasant. I encourage you to be more polite, like I am. I respect you and want nothing different in return.

The reason many sources have mentioned for the strengthening of the dollar a couple of days ago is the rising tension around Ukraine. It has nothing to do with Russia's move to sell Gazprom products in rubles and yuans. The latter may still, and probably will, weaken the dollar at a more future point if fear of a major armed conflict subsides. People still reach for dollars when there is uncertainty. The issue is, maybe it won't continue to be like this in the future.

I am afraid you may have come to the wrong place for respect.

Often times, I find, people (I am not referring to anyone in particular) come here to vent and belittle to make themselves feel better. Or they have a political position that they hold on to so tightly that those that challenge it are attacked for little other reason then they challenged it...regardless of the point or it's merit.

Personally, I just ignore that type (again, not saying anything about shrubnose in particular)...life is too short.

I am just here to learn, teach and kill a little time.

Not waste my time with bitter/rigid people who like to put others down to feel better about themselves.

Re: Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

Originally Posted by DA60

I am afraid you may have come to the wrong place for respect.

Often times, I find, people (I am not referring to anyone in particular) come here to vent and belittle to make themselves feel better. Or they have a political position that they hold on to so tightly that those that challenge it are attacked for little other reason then they challenged it...regardless if the point or it's merit.

Personally, I just ignore that type (again, not saying anything about shrubnose in particular)...life is too short.

I am just here to learn, teach and kill a little time.

Not waste my time with bitter/rigid people who like to put others down to feel better about themselves.

Well, maybe. Me, I'll remain polite. It's not that I'm coming here looking for respect of which thankfully I have enough in my personal life. It's just the way I am; I'm generally a polite and mild-mannered person. I try not to personally attack other users (I can't say I'm 100% successful in this all the time since I'm just a human being and not a saint, but at least I try).

And sure, it's not that I take this place too seriously either. I am interested in geopolitics and I understand that others know more about it than I do; this is why I opened this thread by asking others if the source I had encountered was credible or not. So I'm here primarily to learn. But of course it is a more pleasant experience if people can manage to discuss the issue without calling it BS or trying to attack the person of the user who brought it up.

Re: Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

Originally Posted by GreatNews2night

Well, maybe. Me, I'll remain polite. It's not that I'm coming here looking for respect of which thankfully I have enough in my personal life. It's just the way I am; I'm generally a polite and mild-mannered person. I try not to personally attack other users (I can't say I'm 100% successful in this all the time since I'm just a human being and not a saint, but at least I try).

And sure, it's not that I take this place too seriously either. I am interested in geopolitics and I understand that others know more about it than I do; this is why I opened this thread by asking others if the source I had encountered was credible or not. So I'm here primarily to learn. But of course it is a more pleasant experience if people can manage to discuss the issue without calling it BS or trying to attack the person of the user who brought it up.

I agree...my motto is 'you be nice to me/others and I'll be nice to you.'

Unfortunately, many do not follow that themselves.

I used to debate them. But I found that pointless, so now I just ignore them (I have a lot of names on my Ignore list).

Re: Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

Originally Posted by SMTA

Examiner is a collection of people who write opinions, and get people to click on their article links for revenue.

Not credible, and similar to a blog.

Right, thanks. But then, as shown later in subsequent posts, the news got repeated by more reputable sources. Whether or not this Russian move will have a major impact on the US economy remains to be seen.

Re: Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

Originally Posted by Rainman05

So basically, what this will do is force the EU to buy up rubbles or yuans to pay gazprom.

That's it. Yes, we are talking about the #1 petrol and gaz exporter in the world not accepting dollars anymore for said things but what will that do?

a) it will probably cause the dollar to go down a bit. It won't cause it go crash, chill, but it will go down a bit in value, nothing to be worried about. And it will cause the rubble and the yuan to increase in value as various companies and countries are gonna start buying them up.
b) it will seriously make china very happy coz it can pay russia in it's own currency... that's like... a blessing. And it will cause the russian ruble to gain a bit of value too and that will have short term beneficial impacts for the russian country, not so much for the russians who are poor.. it will make the russians who are rich very happy... and that's it.

So don't worry, it's not that big a deal.

I sure hope you are right.

"The arc of the moral universe is long, but it bends toward justice"---Dr. Martin Luther King, Jr.

Re: Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

Originally Posted by Amanda1858

Does Saudi Arabia and Nigeria still sell their oil to us for petrodollars? Just curious.

Yes, since ALL oil and gas sales in the world up to that one Russia has just announced, have always been paid in dollars (which is why they are called petrodollars).
The Russian sale is the first one to use another currency, which is why it is concerning (it breaches the monopoly of the dollar for oil and gas sales).